China’s smartphone exports are taking a plunge.
According to official data, total exports of the devices fell by 6.4 percent in the first ten months this year.
Statistics reveal that China’s mobile phone export volume hit its peak in 2015.
it dropped by over 500 million units annually between 2015 and 2022.
Chinese media reports that the closure of foreign mobile phone manufacturers’ factories in China may be a primary factor.
Looking at one case, South Korea’s Samsung gradually withdrew from the Chinese market starting in 2014, shifting production to countries like Vietnam.
Similarly, Apple has been gradually relocating its production lines away from China in recent years.